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PREDICTIVE Formulas

TermDefinition
VARIANCE AT COMPLETION (VAC) DEFINITION DIFFERENCE BETWEEN ORIGINAL BUDGET & NEW FORECASTED BUDGET
TO-COMPLETE PERFORMANCE INDEX (TCPI) DEFINITION PERFORMANCE THAT NEEDS TO BE MET TO BE WITHIN BUDGET FOR THE PROJECT
FREE FLOAT DEFINITION AMOUNT OF TIME YOU CAN DELAY AN ACTIVITY WITHOUT DELAYING THE NEXT ACTIVITY
ESTIMATE AT COMPLETION (EAC) DEFINITION FORECASTING TOTAL PROJECT COST AT END BASED ON THE CURRENT SPENDING RATE OF THE PROJECT
COST VARIANCE (CV) DEFINITION DIFFERENCE BETWEEN WORK DONE & MONEY SPENT
ESTIMATE TO COMPLETION (ETC) DEFINITION FORECASTING AMOUNT NEEDED TO COMPLETE THE CURRENT PROJECT BASED ON CURRENT PERFORMANCE
PLANNED VALUE (PV) DEFINITION AMOUNT OF MONEY WORTH OF WORK THAT SHOULD HAVE BEEN DONE ON THE PROJECT
EARNED VALUE (EV) DEFINITION AMOUNT OF MONEY WORTH OF WORK ACTUALLY DONE ON THE PROJECT
COST PERFORMANCE INDEX (CPI) DEFINITION RATE OF HOW WE ARE SPENDING TO ACTUALLY EARNING ON THE PROJECT
ACTUAL COST (AC) DEFINITION AMOUNT OF MONEY ALREADY SPENT ON THE PROJECT
SCHEDULE VARIANCE (SV) DEFINITION DIFFERENCE BETWEEN AMOUNT OF WORK THAT SHOULD BE DONE VS. WHAT'S ACTUALLY DONE
SCHEDULE PERFORMANCE INDEX (SPI) DEFINITION RATE OF HOW WE ARE MEETING THE PROJECT SCHEDULE
BUDGET AT COMPLETION (BAC) DEFINITION ORIGINAL BUDGET OF THE PROJECT
EAC CALCULATION BAC / CPI
EARLY FINISH CALCULATION ES + D - 1
FLOAT CALCULATION LS - ES OR LF - EF
CV CALCULATION EV - AC
CPI CALCULATION EV / AC
LATE FINISH CALCULATION EF - D +1
FREE FLOAT CALCULATION ES OF NEXT ACTIVITY - EF OF CURRENT ACTIVITY - 1
ETC CALCULATION EAC - AC
SPI CALCULATION EV / PV
EV CALCULATION ACTUAL % / BAC
BUDGET ESTIMATES PERCENTAGES -10 % TO +25%
BETA DISTRIBUTION FORMULA (PERT) OPTIMISTIC EST. + (4*REALISTIC) + PESSIMISTIC EST. / 6
STANDARD DEVIATION FORMULA (PERT) (PESSIMISTIC - OPTIMISTIC) / 6
TCPI CALCULATION (BAC - EV) / (BAC - AC) FOR REMAINING FUNDS
SV CALCULATION EV - PV
BAC CALCULATION TOTAL BUDGETED COST FOR THE PROJECT
TRIANGLE DISTRIBUTION FORMULA (PERT) (OPTIMISTIC + REALISTIC + PESSIMISTIC) / 3
FLOAT IS ALSO KNOWN AS... SLACK OR TOTAL FLOAT
FLOAT DEFINITION AMOUNT OF TIME YOU CAN DELAY AN ACTIVITY WITHOUT DELAYING THE PROJECT
AC CALCULATION SUM OF COST FOR THE GIVEN PERIOD
ROUGH ORDER OF MAGNITUDE ESTIMATE PERCENTAGES -25% TO +75%
DEFINITIVE ESTIMATES PERCENTAGES -5% TO +10%
VAC CALCULATION BAC - EAC
PV CALCULATION PLANNED % COMPLETE * BAC
Created by: justin.olive1
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